Succession Planning // FM Accountants / Business & Tax Advisers / Dublin / Ireland
succession_planning
THE SUCCESSION PROGRAMME
Business Strategy for Growth, Development and Succession Succession planning is a key issue for all owner-managed businesses but few appreciate the time it takes to plan and execute an effective strategy to pass-on the ownership of the business. The Frisby Associates Succession Programme is an effective and long-term aid that will help you achieve your personal and business The Programme, or any part of it, can benefit an owner-manager oshareholder thinking about the long-term future of their business. Joining the Succession Programme will help you to introduce new thinking, to innovate and to help your business respond to the challenges of the knowledge-based economy.

PROGRAMME STRUCTURE
The Succession Programme covers every aspect of succession from basic strategy development, through the entire planning process, profit improvement and intellectual development of the teato the transfer itself and the intricacies of effecting a successful, tax-efficient transaction.We offer an extensive series of workshops and diagnostic tools thcan be adopted as stand alone sessions to inform on just one spesuccession area, or be taken as part of a series of business develment advisory sessions to support succession.

WHO SHOULD ADOPT THE SUCCESSION PROGRAMME?
Any business, regardless of the age of the owner-manager or shareholders, or its stage in the business life cycle, can be at risk of succession failure. We have identified five basic factors that put businesses at risk:

POOR BUSINESS PERFORMANCE;
A strong managerial dependence on the owner and their specific knowledge (of markets, customers, systems etc.).No natural family or internal successor. The absence of any (medium-term) plans for transfer.The business is run to meet the owner's personal, ‘lifestyle’ goals,rather than focused on strategic business objectives.

DIFFERENT TYPES OF BUSINESSES WILL FACE FUNDAMENTALLY DIFFERENT SUCCESSION SITUATIONS BASED ON THEIR ‘ATTRACTIVENESS’ TO POTENTIAL BUYERS:
Medium-sized, knowledge-based, niche businesses are likely to be of interest to entrepreneurs and larger businesses seeking to expaor move into the market area by acquisition.Businesses with significant assets like owned property or retail outlets can be attractive to potential purchasers on the basis of the Occupation-based, worker-owner, micro businesses will normally be dependent on developing a management team or alternatively on finding a new owner with the appropriate occupational skills.


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